Homestead Exemption Fraud | Sarasota FL | David Barr Realtor
A county in the Florida Keys has charged a homeowner with fraud, for claiming homestead on multiple properties in Florida and out of state.
Florida homestead law allows a $25,000 exemption on the first $50,000 of the property's tax assessed value if the property is the owner's permanent residence, owned on January 1 of the tax year.
Once in a while a client will ask me if the state actually checks to see if multiple properties are owned by someone claiming homestead, and the answer is definitely yes. In this case, the county Property Appraiser performed an investigation and found the man's wife owned rental property in the state, and claimed homestead on that property.
Reminder: If you purchased a property in Florida this year, and haven't claimed your homestead, you have until March 1 of 2020 to file with your county tax collector's office.
Source: 2019 They Key West Citizen